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And we all thought BofA's $5 debit card charge was crazy....

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So....

 

I've had a business account at TCF here in Colorado for the last 9 years or so. (and before anybody rails on me about this bank... at the time I opened it, they had awesome hours... the daily cut-off time was 8PM... so I could finish work, go have dinner, then wander to the bank if I needed to - no 3 PM rush. That, since, is no longer the case - so they lost the perk that kept me there.)

 

In 2008, I let it go dormant - and I resuscitated the account in October. Keep in mind, the thing could go dormant for over 2 years with no problem....

 

Then I get my most recent statement and there was a $4.95 monthly service fee on it. :aggressive:

 

So I wandered in to a branch this afternoon to ask about it, and found that they now are only offering free checking if you have... get this.... *******15******* debit card transactions a month!

 

Really?!??!!? A purchase every other day to avoid $5?!?!?

 

I asked the dude if he has been on the receiving end of a mutiny over this, and he said "Yes. Big Time."

 

So I'm closing this one down. No loss.

 

And we all thought BOA was stupid....

 

Oh.. last thing... TCF just started this in November, I guess.

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Not really the big (or even regional) banks, to be fair. The local credit union here (that only has six branches) requires 25 signature-based debit usages a month to avoid a $15 monthly service fee, if you don't have the minimum daily balance of $5,000 (yes, $5,000).

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Chase has had this for months unless you have auto deposit

 

Only on some of the older grandfathered accounts do they give you an option for debit card usage to waive the fee. And it's not 15, but 5 which is a little bit more manageable.

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I've got a Chase account, too, which I've had for about 2 years.

 

On that one, IIRC, it only needs 5-6 transactions a month to avoid a $5-6 fee.

 

I haven't seen anything else (so far) with Chase that I want (at least yet) ... but I kinda wanted to keep my foot in the door there.

 

So I use that account for my "entertainment" (only thing I deposit in there is 50% of the tips I get - I do a cosmetology type business) ... anyway... my Barnes & Noble account is hooked up to Chase which dings about a $1-3 charge per month for each magazine I have delivered into my ipad. :)

 

I'd rather have those kind of pesky charges come off of a separate account instead of tangling with my main checking.

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USBank's turn at being stoopid is probably coming....

 

:)

Actually they were going to impose the $5 fee for debit cards but decided to take away the rewards points on their debit cards that they had (which weren't much anyway) instead of adding the $5 dollar fee.

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WF did away with the rewards points, too. I was getting about $200 a year deposited back into my checking account with the WF rewards. Hate to see those go. :(

 

But give it time... I bet the executives are still sitting in their pow-wows figuring out how to squeeze those dollars without raising hell like BOA did.

 

TCF did this pretty quietly. I didn't see it coming until it hit my statement.

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I bank at TCF. As long as I maintain at least $10,000 in all my accounts there, they don't charge a service fee (so you don't need the 15 transactions). I always keep at least 5 times that in my TCF accounts and have never paid any service fees since I opened my accounts there 7 years ago. If they do ever charge me a fee, then I will withdraw all my money from them and close out all my accounts.

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Well, good for you.

 

For some folks like me, we're just placing our *little* votes by taking our paltry balances elsewhere.

 

:rolleyes:

 

I haven't paid monthly account fees in a very, very, very long time - and I'm not gonna start now.

 

:dance:

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I bank at TCF. As long as I maintain at least $10,000 in all my accounts there, they don't charge a service fee (so you don't need the 15 transactions). I always keep at least 5 times that in my TCF accounts and have never paid any service fees since I opened my accounts there 7 years ago. If they do ever charge me a fee, then I will withdraw all my money from them and close out all my accounts.

IMHO TCF's business practices are less than steller... anyone that requires 10k in accounts does not want "regular" people banking with them. Which is fine.. their progative.

 

I've had them try holding a freaking payroll check once because it was out of state when I opened my account and direct deposit wasn't set up yet. Yes it was a regular payroll check however it had our main office address on it which is in Houston. Not ONE bank I've ever banked at did that.. EVER.

 

Even Chase, Citi, etc realize not everyone will be able to maintain balances on their accounts and as long as you have direct deposit you're okay. Most of us have at least that.

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I've got a Chase account, too, which I've had for about 2 years.

 

On that one, IIRC, it only needs 5-6 transactions a month to avoid a $5-6 fee.

 

I haven't seen anything else (so far) with Chase that I want (at least yet) ... but I kinda wanted to keep my foot in the door there.

 

So I use that account for my "entertainment" (only thing I deposit in there is 50% of the tips I get - I do a cosmetology type business) ... anyway... my Barnes & Noble account is hooked up to Chase which dings about a $1-3 charge per month for each magazine I have delivered into my ipad. :)

 

I'd rather have those kind of pesky charges come off of a separate account instead of tangling with my main checking.

you know lol now that you mention it- probably why even before I had auto deposit I never got a fee I forgot all about that! I do 5 or 6 in a day or two lol...

 

I know some people hate chase but they have been angels to Dh and I :)

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